latest-news-headlines Market Intelligence /marketintelligence/en/news-insights/latest-news-headlines/chile-s-cochilco-lowers-fy-20-copper-price-forecast-to-us-2-40-per-pound-57914855 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Chile's Cochilco lowers FY'20 copper price forecast to US$2.40 per pound

Mining Exploration Insights - April 2020

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

State of the Market: Mining Q2-2019

Chile's Cochilco lowers FY'20 copper price forecast to US$2.40 per pound

The Chilean Copper Commission, or Cochilco, lowered its copper price forecast for 2020 to US$2.40 per pound from the previous estimate of US$2.85 per pound, Reuters reported April 3.

The 45-cent reduction in the new estimate is a result of a significant downturn in copper demand, principally from China, Chile's main buyer of the metal, due to the COVID-19 pandemic.

The commission, meanwhile, anticipates the metal to rebound by 2021 to US$2.90 per pound, but lower than the previous forecast of US$2.95 per pound.

Earlier, Chile's state-owned Codelco announced that it was reducing its operations as the country's government declared a 90-day state of catastrophe to curb the spread of the new coronavirus.

READ MORE: Sign up for our weekly coronavirus newsletter here, and read our latest coverage on the crisis here.